MNTN Inc. (NYSE:MNTN) Given Average Rating of “Moderate Buy” by Analysts

MNTN Inc. (NYSE:MNTN) has received an average recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $20.6818.

MNTN has been the subject of several recent analyst reports. Tigress Financial reissued a “strong-buy” rating and issued a $26.00 price target on shares of MNTN in a report on Wednesday, June 3rd. Citizens Jmp cut their price target on shares of MNTN from $23.00 to $19.00 and set a “market outperform” rating for the company in a report on Wednesday, May 6th. Citigroup cut their price target on shares of MNTN from $22.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Wall Street Zen lowered shares of MNTN from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $15.00 target price on shares of MNTN in a report on Wednesday, May 6th.

MNTN Price Performance

NYSE:MNTN opened at $9.35 on Monday. The firm has a market cap of $570.23 million and a price-to-earnings ratio of -311.53. The company has a 50 day moving average price of $9.11 and a 200-day moving average price of $10.36. MNTN has a 1-year low of $7.67 and a 1-year high of $32.00.

MNTN (NYSE:MNTN) last posted its earnings results on Tuesday, May 5th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.01). The firm had revenue of $73.70 million for the quarter, compared to analysts’ expectations of $72.63 million. MNTN had a net margin of 7.84% and a return on equity of 16.44%. MNTN’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period last year, the firm earned ($1.41) earnings per share. On average, sell-side analysts anticipate that MNTN will post 0.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MNTN

Large investors have recently modified their holdings of the business. Soros Fund Management LLC acquired a new position in shares of MNTN during the 2nd quarter valued at about $2,187,000. Raymond James Financial Inc. acquired a new position in shares of MNTN during the 2nd quarter valued at about $2,111,000. Bamco Inc. NY acquired a new position in shares of MNTN during the 2nd quarter valued at about $1,531,000. Balyasny Asset Management L.P. acquired a new position in shares of MNTN during the 2nd quarter valued at about $3,442,000. Finally, Boothbay Fund Management LLC acquired a new position in shares of MNTN during the 2nd quarter valued at about $2,183,000. Hedge funds and other institutional investors own 72.90% of the company’s stock.

About MNTN

MNTN is a software platform specializing in connected television (CTV) advertising, offering marketers the tools to plan, launch and measure streaming TV campaigns. Its platform enables brands to reach audiences across major OTT and CTV channels, helping advertisers target viewers based on demographic, behavioral and contextual data.

The company’s core product suite includes campaign management, real-time bidding and performance analytics. MNTN integrates with leading streaming services and ad exchanges, allowing clients to execute programmatic buys, track view-through conversions and optimize media spend through automated reporting dashboards.

Founded by experienced digital advertising professionals, MNTN is headquartered in Austin, Texas, and primarily serves brands and agencies across the United States and Canada.